By Maya Lester KC & Michael O’Kane

US will not renew Russian debt General Licence

OFAC has confirmed that it will not renew the provisions of Russia-related General Licence (GL) 9C that expired today, 25 May 2022. The expired provisions authorised: Transactions ordinarily incident and necessary to dealings in debt or equity of one of more of: State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank; Public Joint Stock Company Bank Financial Corporation Otkritie; …

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About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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